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UAE President hopes for 'better future for all' as nation welcomes in 2025

President Sheikh Mohamed extends message of goodwill to political leaders around the world

The National

December 31, 2024

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President Sheikh Mohamed sent New Year's greetings to leaders of nations around the world, wishing them continued health and prosperity in 2025.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, shared similar messages, as did Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court.

The leaders also extended New Year greetings to the people of the UAE, with renewed hopes for peace and prosperity.

“I extend my best wishes on the occasion of the New Year,” President Sheikh Mohamed wrote on X. “Together, let us pray for peace and progress in the region and around the world as we work united to foster a better future for all.”

In a separate post, Sheikh Mohammed bin Rashid hoped for “glory, pride, prosperity and stability” for the country year after year. He highlighted the “historic numbers” the Emirates has achieved in “all its indicators” in 2024.

Sheikh Mohammed also wished for peace around the world and expressed hope for “humanity to advance to new horizons”.

“We welcome 2025 with greater optimism, greater ambitions and a greater determination to continue the journey of growth and prosperity,” Sheikh Mohammed said.

“My sincere congratulations on the occasion of the New Year and my wishes that it will be a year of progress and prosperity for our beloved country under the shadow of our wise leadership and for all countries of the world,” Sheikh Mansour said.

New Year's Eve fireworks in Abu Dhabi and Dubai - in pictures

  • Fireworks display on Burj Khalifa for the new year 2025 celebration at Dubai Mall in Dubai. Pawan Singh / The National
    Fireworks display on Burj Khalifa for the new year 2025 celebration at Dubai Mall in Dubai. Pawan Singh / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival drone and fireworks New Year’s Eve display held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Fireworks at the Sheikh Zayed Festival in Al Wathba, Abu Dhabi, during the evening of December 31. Victor Besa / The National
    Fireworks at the Sheikh Zayed Festival in Al Wathba, Abu Dhabi, during the evening of December 31. Victor Besa / The National
  • The crowd enjoys the circus show during the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
    The crowd enjoys the circus show during the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
  • The Sheikh Zayed Heritage Festival will attempt to set four Guinness World Records once again. Victor Besa / The National
    The Sheikh Zayed Heritage Festival will attempt to set four Guinness World Records once again. Victor Besa / The National
  • There will be fireworks for 50 minutes at Al Wathba, while 6,000 drones take to the sky for 20 minutes, creating a special show with lasers and light. Victor Besa / The National
    There will be fireworks for 50 minutes at Al Wathba, while 6,000 drones take to the sky for 20 minutes, creating a special show with lasers and light. Victor Besa / The National
  • The crowd enjoys the circus show at Al Wathba, Abu Dhabi. Victor Besa / The National
    The crowd enjoys the circus show at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Hourly fireworks displays at Al Wathba started at 6pm and were set to continue every hour until 11.40pm, after which the world record-breaking show would begin. Victor Besa / The National
    Hourly fireworks displays at Al Wathba started at 6pm and were set to continue every hour until 11.40pm, after which the world record-breaking show would begin. Victor Besa / The National
  • Visitors arrive at the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
    Visitors arrive at the Sheikh Zayed Heritage Festival, at Al Wathba. Victor Besa / The National
  • A fountain show during the evening of December 31, at Dubai Mall. Pawan Singh / The National
    A fountain show during the evening of December 31, at Dubai Mall. Pawan Singh / The National
  • Children ready for New Year Eve's celebrations at Dubai Mall. Pawan Singh / The National
    Children ready for New Year Eve's celebrations at Dubai Mall. Pawan Singh / The National
  • Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
    Sheikh Zayed Heritage Festival, held at Al Wathba, Abu Dhabi. Victor Besa / The National
  • Entertainment during New Year's Eve at Dubai Mall in Dubai. Pawan Singh / The National
    Entertainment during New Year's Eve at Dubai Mall in Dubai. Pawan Singh / The National

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, also shared his best wishes after meeting senior officials at Zabeel Majlis to discuss Dubai's achievements in 2024 and future plans.

“As we welcome the New Year, we reaffirm our commitment to working as one team to solidify Dubai's status as a global leader in diverse sectors,” he said on X. “We wish everyone in the UAE, the region, and across the world a happy and peaceful New Year.”

The UAE put on a series of firework displays across the country to ring in the new year. More than 45 fireworks shows lit up the Dubai sky, with the most popular at Burj Khalifa, the Burj Al Arab and Atlantis.

The capital staged its own spectacular displays at Abu Dhabi Corniche, Yas Bay waterfront and a record 60-minute show at Sheikh Zayed Heritage Festival in Al Wathba. Meanwhile, Ras Al Khaimah aimed to recreate fireworks magic again after setting Guinness World Records for two years in a row.

UAE workers begin 2025 with a public holiday, with January 1 marked off for federal government workers and the private sector by the government last week. Motorists in Dubai and Abu Dhabi will also enjoy free parking after authorities waived fees for the public holiday.

New Year celebrations around the World - in pictures

  • Local residents look at fireworks as they celebrate the New Year at Ancol Beach in Jakarta. AFP
    Local residents look at fireworks as they celebrate the New Year at Ancol Beach in Jakarta. AFP
  • Fireworks at Tsim Sha Tsui to the north of Victoria Harbour in Hong Kong mark the beginning of 2025. AP Photo
    Fireworks at Tsim Sha Tsui to the north of Victoria Harbour in Hong Kong mark the beginning of 2025. AP Photo
  • Revellers in Hong Kong photograph the New Year fireworks over Victoria Harbour. Reuters
    Revellers in Hong Kong photograph the New Year fireworks over Victoria Harbour. Reuters
  • Fireworks over Sydney Opera House and Harbour Bridge during New Year’s Eve celebrations in Sydney, Australia. Reuters
    Fireworks over Sydney Opera House and Harbour Bridge during New Year’s Eve celebrations in Sydney, Australia. Reuters
  • Fireworks light up the Taipei skyline during New Year's Eve celebrations in Taiwan. Getty Images
    Fireworks light up the Taipei skyline during New Year's Eve celebrations in Taiwan. Getty Images
  • Anticipation for New Year 2025 grows at the Sheikh Zayed Heritage Festival in Abu Dhabi. AFP
    Anticipation for New Year 2025 grows at the Sheikh Zayed Heritage Festival in Abu Dhabi. AFP
  • Makati, Metro Manila, the Philippines, is awash with New Year's colours. AFP
    Makati, Metro Manila, the Philippines, is awash with New Year's colours. AFP
  • A blaze for colour for 2025 over Victoria Harbour in Hong Kong. AFP
    A blaze for colour for 2025 over Victoria Harbour in Hong Kong. AFP
  • Fireworks over the port during the New Year celebrations in Colombo, Sri Lanka. AFP
    Fireworks over the port during the New Year celebrations in Colombo, Sri Lanka. AFP
  • The sky over Marina Bay lights up during New Year celebrations in Singapore. Reuters
    The sky over Marina Bay lights up during New Year celebrations in Singapore. Reuters
  • Fireworks illuminate the sky over Hoan Kiem Lake during the New Year's Eve celebrations in Hanoi, Vietnam. EPA
    Fireworks illuminate the sky over Hoan Kiem Lake during the New Year's Eve celebrations in Hanoi, Vietnam. EPA
  • A square decorated for Christmas and the New Year festivities in the Russian-controlled Donetsk region, eastern Ukraine. AP Photo
    A square decorated for Christmas and the New Year festivities in the Russian-controlled Donetsk region, eastern Ukraine. AP Photo
  • Fireworks explode as "2025" is projected onto the The Arc de Triomphe the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
    Fireworks explode as "2025" is projected onto the The Arc de Triomphe the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
  • Fireworks explode as the Arc de Triomphe is illuminated during the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
    Fireworks explode as the Arc de Triomphe is illuminated during the New Year's celebrations on the Champs Elysees avenue in Paris, France. Reuters
  • People gather on the Champs Elysees avenue during the New Year's Eve celebrations in Paris, France. Reuters
    People gather on the Champs Elysees avenue during the New Year's Eve celebrations in Paris, France. Reuters
  • Fireworks illuminate the sky over the Quadriga statue of the Brandenburg Gate during New Year's Eve celebrations in Berlin, Germany. EPA
    Fireworks illuminate the sky over the Quadriga statue of the Brandenburg Gate during New Year's Eve celebrations in Berlin, Germany. EPA
  • Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
    Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
  • Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
    Fireworks illuminate the Quadriga on the Brandenburg Gate during the New Year celebrations in Berlin, Germany. AFP
  • Fireworks light the sky above the Quadriga at the Brandenburg Gate during New Year's celebrations shortly after midnight in Berlin, Germany. AP
    Fireworks light the sky above the Quadriga at the Brandenburg Gate during New Year's celebrations shortly after midnight in Berlin, Germany. AP
  • Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
    Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
  • Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
    Fireworks light up the sky over Elizabeth Tower, also known as Big Ben, and the London Eye in central London during the New Year celebrations. PA
  • Fireworks burst in the sky around the London Eye and The Elizabeth Tower, commonly known by the name of the clock's bell, "Big Ben", at the Palace of Westminster, London. AFP
    Fireworks burst in the sky around the London Eye and The Elizabeth Tower, commonly known by the name of the clock's bell, "Big Ben", at the Palace of Westminster, London. AFP
How much sugar is in chocolate Easter eggs?
  • The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
  • The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
  • The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

Profile

Company name: Jaib

Started: January 2018

Co-founders: Fouad Jeryes and Sinan Taifour

Based: Jordan

Sector: FinTech

Total transactions: over $800,000 since January, 2018

Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Where to donate in the UAE

The Emirates Charity Portal

You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.

The General Authority of Islamic Affairs & Endowments

The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.

Al Noor Special Needs Centre

You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.

Beit Al Khair Society

Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.

Dar Al Ber Society

Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.

Dubai Cares

Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.

Emirates Airline Foundation

Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.

Emirates Red Crescent

On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.

Gulf for Good

Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.

Noor Dubai Foundation

Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).

The specs: 2019 Audi A8

Price From Dh390,000

Engine 3.0L V6 turbo

Gearbox Eight-speed automatic

Power 345hp @ 5,000rpm

Torque 500Nm @ 1,370rpm

Fuel economy, combined 7.5L / 100km

Know your Camel lingo

The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home

Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless

Asayel camels - sleek, short-haired hound-like racers

Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s

Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival

Courses%20at%20Istituto%20Marangoni%2C%20Dubai
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While you're here
While you're here
360Vuz PROFILE

Date started: January 2017
Founder: Khaled Zaatarah 
Based: Dubai and Los Angeles
Sector: Technology 
Size: 21 employees
Funding: $7 million 
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Results

2pm: Serve U – Maiden (TB) Dh60,000 (Dirt) 1,400m; Winner: Violent Justice, Pat Dobbs (jockey), Doug Watson (trainer)

2.30pm: Al Shafar Investment – Conditions (TB) Dh100,000 (D) 1,400m; Winner: Desert Wisdom, Bernardo Pinheiro, Ahmed Al Shemaili

3pm: Commercial Bank of Dubai – Handicap (TB) Dh68,000 (D) 1,200m; Winner: Fawaareq, Sam Hitchcott, Doug Watson

3.30pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Xavier Ziani, Salem bin Ghadayer

4pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,600m; Winner: Rakeez, Patrick Cosgrave, Bhupat Seemar

4.30pm: Al Redha Insurance Brokers – Handicap (TB) Dh78,000 (D) 1,800m; Winner: Capla Crusader, Bernardo Pinheiro, Rashed Bouresly

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%206-cylinder%203-litre%2C%20with%20petrol%20and%20diesel%20variants%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20286hp%20(petrol)%2C%20249hp%20(diesel)%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%20(petrol)%2C%20550Nm%20(diesel)%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EStarting%20at%20%2469%2C800%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
The biog

Name: Timothy Husband

Nationality: New Zealand

Education: Degree in zoology at The University of Sydney

Favourite book: Lemurs of Madagascar by Russell A Mittermeier

Favourite music: Billy Joel

Weekends and holidays: Talking about animals or visiting his farm in Australia

While you're here
Frida%20
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EEjari%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EYazeed%20Al%20Shamsi%2C%20Fahad%20Albedah%2C%20Mohammed%20Alkhelewy%20and%20Khalid%20Almunif%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EPropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3E%241%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ESanabil%20500%20Mena%2C%20Hambro%20Perks'%20Oryx%20Fund%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E8%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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On Women's Day
Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group

Updated: January 01, 2025, 3:34 AM
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